Việt Nam, US hold second round of reciprocal trade agreement talks in Washington

Việt Nam, US hold second round of reciprocal trade agreement talks in Washington

Discussions focused on clarifying the draft and each’s country’s current policies in areas of interest.

Area assigned for nuclear power project in Ninh Thuận Province. Cooperation in energy development will be a key drier in balancing the bilateral trade between Việt Nam and the US, Minister of Industry and Trade Nguyễn Hồng Diên said. — VNA/VNS Photo Nguyễn Thành

Việt Nam and the US began the second round of negotiations on a proposed reciprocal trade agreement in Washington on Monday which aims to deepen the economic ties between the two countries, according to the Ministry of Industry and Trade.

The talks, scheduled to run through Thursday, are led by Vietnamese Minister of Industry and Trade Nguyễn Hồng Diên.

On the first days, the two sides exchanges views on approaches to address problems and accelerate the negotiation process. Discussions focused on clarifying the draft and each’s country’s current policies in areas of interest.

On the same day, Diên held a separate working session with Westinghouse, a global leader in nuclear power technology. During the meeting, Diên said that Việt Nam is considering to revive its nuclear energy programme to meet glowing power demand and ensure the national energy security.

He stressed that Việt Nam will adopt a cautious and modern approach aligned with global safety standards and domestic conditions, adding that Việt Nam has potential locations for nuclear power development, providing ground for enhancing international cooperation on both large-scale and small modular reactor projects.

“Cooperation in energy development will be a key drier in balancing the bilateral trade,” he said.

Margaret Cosentino, vice president of Westinghouse, expressed strong support for Việt Nam’s energy plan, stressing the importance of long-term cooperation in the energy sector.

The two sides also agreed to advance the cooperation and plan to sign a memorandum of understanding (MoU) between Westinghouse and Việt Nam’s State-run energy group PetroVietnam on nuclear energy development.

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